Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Sullivan (Sullivan), previously associated with Stonehaven, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Sullivan recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $200,000.00 on February 29, 2024.
Plaintiff alleges that placement agent, Respondent(s), did not perform adequate due diligence on their client, NexUS 1, LLC. Respondent(s) confirm that extensive due diligence was performed upfront and ongoing on their client, but the client withheld material information in its responses, allowing Respondent(s) to conclude that no material issues were present with the offering.